Rex founder hikes price of clifftop Malibu estate to $72M

The co-founder of Rex — Real Estate Exchange didn’t shave the price of his cliff-top Malibu estate after 11 long months of looky loos. He raised the price $7 million.

Jack Ryan, the former investment banker once married to actress Jeri Ryan, has now listed his 10,400-square-foot-mansion at 32300 Pacific Coast Highway for $72 million, Dirt.com reported.

The former Goldman Sachs partner and media mogul – best known for running against Barack Obama in the 2004 U.S. Senate race in Illinois before bailing due to allegations stemming from his divorce from the star of “Star Trek: Voyager” – paid $18.3 million for the property in 2007.

In January, Ryan listed the eight-bedroom, 14-bathroom mansion with a two-bedroom guest house in Encinal Bluffs for $65 million.

The home was built in 1968 for Dutch muralist Anthony Heinsbergen, who used the home as an art gallery. He died in 1981. The home was renovated three years later.

The two-story, Cape Cod-style house sits on 2.8 acres above El Matador State Beach, with sweeping views of the Pacific Ocean.

A foyer flows to a sunny living room with a fireplace and French doors that open onto a terrace. There’s also a formal dining room, family room and gourmet kitchen, large pantry and breakfast nook.

A master bedroom has a fireside sitting area and private balcony, plus dual walk-in closets and baths. There’s an office and a paneled recreation room with a bar.
The backyard has a pool and spa, with a winding pathway leading down to the stone guest cottage, a flagstone patio and fireplace and a secluded cove below.

Damon Skelton (Compass)

Brokers Damon Skelton of Compass and Andrew Meneses of Rex hold the listing.

Rex — Real Estate Exchange, based in Austin, is a startup proptech brokerage that works outside the MLS to sell homes. In March 2021, it hit Zillow Group with an antitrust lawsuit, alleging it stifles competition and left buyers stuck with high commission fees.

In 2015, Ryan, co-founder and CEO of Rex, sold a Malibu mansion in Paradise Cove to Laurene Powell Jobs, the billionaire philanthropist and widow of Steve Jobs, for $44 million

Prices in Encinal Bluffs have soared, with Cindy Crawford’s former oceanfront estate selling to Kim Kardashian in September for $70.4 million.

— Dana Bartholomew

Read more

National

Startup sues Zillow for suppressing lower-fee listings

Los Angeles

Kim Kardashian buys former Cindy Crawford home in Malibu for $70M